How
to Take Care of Your Money So Your Money Takes Care of You
In Your 40's
Step1
- The road to financial freedom is to
have great health so that you are in good shape
to learn.
Step
2 - An open mindset to start learning
and practicing what you have learned.
Step
3 - Investing your time in your
financial & health education so that you
are in control of your life to create wealth to
enjoy a better life.
Step
4 - Enjoy the wealth that you have
created because you have been taking care of
your health.
In your 40s…
Draw up a revocable living trust with an
incapacity clause
Though it's best to have both a will and a trust, a
trust eliminates the lengthy probate court process
required to validate a will. A lawyer can draw up the
document for you, but you can also create one yourself
with several software programs. You'll then need to
hire an estate lawyer to review your work.
Save for your retirement before the kids'
college tuition
Don't shortchange yourself—the kids can get loans
for school but you can't get loans for retirement. Max
out your 401(k) and, if you're eligible, a Roth IRA.
To find out how much you need for a secure future,
visit smartmoney.com/retirement.
Once you're on the track to a comfortable retirement,
visit savingforcollege.com for tips on funding your
children's education.
By Suze Orman
2006 (c) creditplushealth.com
Credit Plus Health By Sean Toh All rights reserved.